Asian Stocks Surge on Tech Gains, Trade Progress

Asian stock markets, led by Japan's Nikkei 225, surged to near yearly highs on strong gains in technology shares and optimism over U.S. interest rate cuts. The Nikkei closed higher after a fifth consecutive day of gains, though export and automaker stocks were restrained by a stronger yen and ongoing U.S. auto tariffs. Regional equities benefited from easing geopolitical tensions, including a ceasefire between Israel and Iran, and the finalization of a U.S.-China trade deal. However, weaker-than-expected industrial production data in Japan and concerns about softness in the U.S. labor market tempered some of the market enthusiasm. Overall, Asian markets are on track for robust monthly gains. Commodities like gold and oil declined as risk appetite improved.